Key Takeaways Ultragenyx/Mereo BioPharma reported that the Orbit and Cosmic studies missed primary endpoints.Both studies were evaluating setrusumab (UX143) for the treatment of osteogenesis imperfecta.RARE will review operations, pursue significant cost cuts and run additional analyses across studies.Shares of Ultragenyx Pharmaceutical (RARE) and Mereo BioPharma (MREO) plunged 42.3% and 87.6%, respectively, on Dec. 29 after the companies announced disappointing data from the phase III Orbit and Cosmic stud ...